LGT Group Foundation Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

LGT Group Foundation trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,815 shares of the network equipment provider’s stock after selling 6,425 shares during the quarter. LGT Group Foundation’s holdings in Cisco Systems were worth $15,812,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in Cisco Systems during the 2nd quarter valued at approximately $25,000. Retirement Group LLC grew its stake in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems during the 2nd quarter valued at approximately $36,000. Tidemark LLC acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $41,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Cisco Systems in the 1st quarter worth approximately $41,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $55.89.

Cisco Systems Trading Up 0.1 %

NASDAQ:CSCO traded up $0.07 during trading hours on Monday, hitting $48.57. 1,472,172 shares of the stock were exchanged, compared to its average volume of 19,541,115. The company’s 50 day moving average is $47.84 and its two-hundred day moving average is $47.93. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $56.97. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $193.83 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 3.82 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the business earned $1.01 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.29%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is presently 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,944 shares of company stock worth $3,566,120. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.